SCHEDULE: Sit Entities Adjust MFS Intermediate Income Trust Stake

Sit Investment Associates and Sit Fixed Income Advisors II have filed an amendment to their Schedule 13D, detailing recent trading activity and maintaining a 26.3% beneficial ownership in MFS Intermediate Income Trust.

Summary

• This filing is Amendment No. 1 to the Schedule 13D, amending and supplementing the original statement filed on February 24, 2026.
• The reporting persons are SIT INVESTMENT ASSOCIATES INC and SIT FIXED INCOME ADVISORS II LLC /ADV (collectively, "Sit Entities").
• Sit Entities beneficially own an aggregate of 29,943,126 shares of Common Stock of MFS Intermediate Income Trust.
• This beneficial ownership represents 26.3% of the Issuer's class of securities, based on 113,798,238 shares outstanding as of October 31, 2025.
• Over the past 60 days, Sit Entities engaged in both selling and buying activities, with a net purchase of 795,194 shares.
• Transactions included sales totaling 1,040,393 shares at prices ranging from $2.50 to $2.59 per share, and purchases totaling 1,835,587 shares at prices ranging from $2.47 to $2.62 per share.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as moderately positive due to the significant, sustained ownership stake and the net accumulation of shares over the past 60 days, despite earlier sales. The recent buying activity suggests a positive sentiment at current price levels.

Positives

• Sit Entities maintain a substantial 26.3% beneficial ownership, indicating continued significant interest in MFS Intermediate Income Trust.
• Over the past 60 days, Sit Entities have net purchased 795,194 shares, including significant buying activity in March 2026, suggesting a recent accumulation of shares.

Negatives

• Sit Entities engaged in substantial selling of 1,040,393 shares in January and early February 2026, potentially indicating a rebalancing or profit-taking strategy during that period.

Future Outlook

This filing does not contain any forward-looking statements or guidance from the company or the reporting persons regarding future performance or strategic direction.

Industry Context

StockSavvy.ai notes that Schedule 13D filings are crucial for tracking significant shareholder activity, especially by institutional investors like Sit Entities. Their substantial stake and recent mixed trading patterns could signal their evolving sentiment towards the closed-end fund sector or specific investment strategies, providing transparency on major investor positioning.

Stakeholder Impact

• Shareholders: Provides transparency on a major investor's position and trading activity, which could influence market perception and investor confidence.

Key Dates

Recommendation

Sit Entities maintain a substantial 26.3% stake in MFS Intermediate Income Trust, indicating a long-term commitment. While there was significant selling activity in January and early February, this was offset by substantial buying in March, resulting in a net increase of 795,194 shares over the 60-day period. This mixed trading pattern suggests a rebalancing or opportunistic accumulation rather than a clear bullish or bearish signal. A "hold" recommendation is appropriate as the active management of a large position warrants further observation of the fund's performance and Sit Entities' future actions.

Keywords

MFS Intermediate Income Trust, Sit Investment Associates, Sit Fixed Income Advisors, Schedule 13D, beneficial ownership, common stock, closed-end fund